NEWS
PERNOD RICARD OVERTAKES DIAGEO TO BECOME LEADER IN INDIA’S ALCOHOL MARKET
By Susan Lewis
19-9-2024
Source: Pernod Ricard
French drinks giant Pernod Ricard has surpassed Diageo to become India’s biggest alcoholic drinks maker, thanks to popularity of its scotch brand 100 Pipers and Indian-made brands Blenders Pride and Royal Stag, according to managing director of Pernod Ricard India Jean Touboul.
Pernod Ricard India’s revenue sales grew 6 percent in the last fiscal year to INR265 billion (USD3.16b), while Diageo’s s India sales fell 7 percent to INR257b in the same period.
"India has remained relatively resilient despite consumer pressures, including high inflation which has affected consumer spending. Even amid this global slowdown, India's resilience was evident in our business performance," Touboul told India local media.
Pernod Ricard counts India among its three "must-win" countries globally, along with USA and China.
India outpaced China to become the second biggest market by sales for Pernod Ricard in the last financial year ended June. The country also became the second largest market worldwide for Jameson and Glenlivet.
“It is one of the fastest-growing markets thanks to favourable macroeconomics, a demographic dividend and 25 million new legal drinking age people that are entering the possible pool of consumers,” Touboul said.
Pernod Ricard controls about a fourth of India's whisky market despite having a negligible presence in the mass market segment. It earns the majority of its sales from premium and semi-premium brands such as Blenders Pride, Royal Stag and Imperial Blue.
The company controls half of India's premium whiskey market, and 42 percent of the imported spirits market.
Diageo’s flagship brands in India inclding Johnnie Walker, Tanqueray and Smirnoff. Premium portfolio now accounts for about 87 percent of the company’s overall sales, up from 72 percent in 2021.
Two years ago, Diageo sold 32 lower priced brands including Haywards, Old Tavern and White Mischief, which together accounted for nearly a fifth of its sales, resulting in a decline in its revenue.
(the writer can be contacted at: info@thewinechronicle.com)
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